Icelandic-Linked CDOs See Rating Cuts

Ratings on 10 synthetic collateralized debt obligations have been chopped for referencing at least one of Iceland’s troubled banks.

  • 20 Nov 2008

--Cristina Pittelli

Ratings on 10 synthetic collateralized debt obligations have been chopped for referencing at least one of Iceland’s troubled banks. Recent credit default swap auctions for the senior obligations of Landsbanki, Kaupthing and Glitnir returned particularly low results, between 1.25% to 6.625%, and recovery prospects for the ...

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